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Memphis-based orthopedic company Wright Medical Group Inc. reported strong sales during the fourth quarter and a declining net loss compared to fourth quarter 2013, with the company’s president and CEO Robert Palmisano saying the results were helped in part by the company’s fast-accelerating U.S. foot and ankle business.

Memphis-based orthopedic company Wright Medical Group Inc. reported strong sales during the fourth quarter and a declining net loss compared to fourth quarter 2013, with the company’s president and CEO Robert Palmisano saying the results were helped in part by the company’s fast-accelerating U.S. foot and ankle business.

Wright Medical Group Inc. of Memphis announced Monday, Oct. 27, a merger of the specialty orthopedic company with Tornier N.V., a global medical device company headquartered in Amsterdam that makes and markets joint replacement and soft tissue repair devices.

Wright Medical Group Inc. of Memphis announced Monday, Oct. 27, a merger of the specialty orthopedic company with Tornier N.V., a global medical device company headquartered in Amsterdam that makes and markets joint replacement and soft tissue repair devices.

Wright Medical Group Inc. of Memphis announced Monday, Oct. 27, a merger of the specialty orthopedic company with Tornier N.V., a global medical device company headquartered in Amsterdam that makes and markets joint replacement and soft tissue repair devices.

Here’s a snapshot of recent news and developments at some of the publicly traded companies based in Memphis, reflecting the influence these companies have and the shadows they cast both in Memphis and beyond, in industries that range from bioscience to banking.

Alisa Ellis has joined State Systems Inc. as a low voltage sales executive. She brings 16 years of telecommunications experience to the company, which offers protection products and services, including fire protection equipment, training and cleaning services, as well as technology services such as network integration, cabling systems and wireless support.

The Memphis market recorded absorption of 225,338 square feet in the fourth quarter – the largest positive absorption the market has experienced during any quarter in more than 10 years – to end the year with positive net absorption of 40,558 square feet, according to CB Richard Ellis Memphis.

After months of planning, Wright Medical Group Inc. has signed the lease for its new headquarters and is in the process of moving to the wooded office campus at Park Avenue and Cherry Road in East Memphis.

The Memphis office real estate market began showing signs of life in 2013, with the market for Class A office space in the East Memphis submarket fueling the resurgence.

While the city’s overall office market numbers may not appear very strong, the city’s most desired office submarket – East Memphis around Poplar Avenue and Interstate 240 – began showing strong signs of improvement in the second half of the year.

When the Economic Development Growth Engine of Memphis and Shelby County was formed in 2011, president and CEO Reid Dulberger knew it would take the organization a little time to gain its footing.

At first, EDGE did not have its own staff or its own office, and it lacked financial and operational control of several key component parts, such as the Port of Memphis and Shelby County and the Depot Area Development Corp.

After suffering through a prolonged slump, the Memphis commercial real estate market this year began to shake off the rust that gathered during the “Great Recession,” and brighter days could be ahead for the prime markets in the apartment, retail, office and industrial sectors, according to local experts.

Class A office space in East Memphis continues to be a strong performer thanks to the convenience and quality of buildings radiating from the Poplar/Interstate 240 intersection.

“East Memphis is a real bright spot regionally because if you look at the overall Memphis market it is a bit flat,” said Kemp Conrad, president of Cushman & Wakefield/Commercial Advisors Asset Services. “The East submarket, especially with Class A space, is very strong and dynamic, with strong tenants and strong institutional ownership.”

Class A office space in East Memphis continues to be a strong performer thanks to the convenience and quality of buildings radiating from the Poplar/Interstate 240 intersection.

“East Memphis is a real bright spot regionally because if you look at the overall Memphis market it is a bit flat,” said Kemp Conrad, president of Cushman & Wakefield/Commercial Advisors Asset Services. “The East submarket, especially with Class A space, is very strong and dynamic, with strong tenants and strong institutional ownership.”

Here’s a snapshot of the recent performance of some of Memphis’ publicly traded companies – businesses that cast a shadow far beyond the Memphis city limits in industries including finance, package delivery and bioscience.

An audience of a few hundred people, including investors, entrepreneurs, researchers, clinicians and musculoskeletal industry leaders, is gathering in Memphis this week to network, learn about new business opportunities and hear about companies like Restore Medical Solutions, a Memphis-based medical device startup.

Health care was the hot topic Thursday, Sept. 19, as nearly 150 people gathered in the Memphis Brooks Museum of Art auditorium to discuss the current landscape and impending changes in that field.

Health Care: The State of the Industry – one of six seminars in The Daily News’ 2013 Seminar Series – attracted a variety of professionals, most of them from outside the medical realm. They included lawyers, architects, administrative professionals, Realtors, assisted-living specialists and bankers, among others, and most of them were eager to learn more about the Affordable Care Act and how it would affect them. Others came to be inspired.

ARLINGTON, Tenn. (AP) – Wright Medical Group Inc. said Thursday that the Food and Drug Administration did not approve its application to use its Augment Bone Graft product as an alternative product for use in foot and ankle fusions.

The Daily News will host its Money and Markets: State of the Economy seminar and panel discussion Thursday, June 6, at 3:30 p.m. in the Memphis Brooks Museum of Art auditorium, 1934 Poplar Ave. Craig Dismuke, senior vice president and chief economic strategist at Vining Sparks IBG, will present the keynote. Cost is $25. Visit seminars.memphisdailynews.com.

Andy Wright has joined Memphis-based Magna Bank as senior vice president and manager of commercial banking. Wright, who previously held senior vice president positions at Iberiabank and First Tennessee Bank, has experience working with a variety of industries, with in-depth expertise in the transportation and logistics industries.

In recent years, the U.S. Food and Drug Administration has reported an increase in the number of drug shortages and discontinuations.

The number of drug shortages reported to the FDA gained 41 percent to 251 shortages in 2011, compared to 178 shortages reported in 2010. The agency says it continues to see an increasing number of shortages, including drugs used to treat cancer, anesthetics used for patients undergoing surgery, drugs needed for emergency medicine and injectable drugs. The FDA also has reported a spike in the number of medications that have been discontinued.

Leticia “Tish” Towns, senior vice president of external relations for the Regional Medical Center at Memphis, has been named to the Southern College of Optometry board of trustees. Among her duties at The MED, Towns oversees the development of the hospital’s strategic plan and manages marketing and communications, community engagement, the Traumatic Brain Injury program, government relations and pastoral care.

The week that’s now drawing to a close is Exhibit A for why a national tech media site co-founder said he and his partner are relocating their operation to Memphis.

Nibletz.com co-founder Kyle Sandler said other cities made strong offers – some of them even willing to pony up more incentives than could be matched by Memphis entities wooing Nibletz, which bills itself as “the voice of startups everywhere else.” But Sandler said he wants to be where the action is, and as he sees it, the entrepreneurial and startup action is in Memphis.

Wright Medical Group Inc. over the last two years has seen its fair share of restructuring, and some analysts anticipate that realignment, coupled with sales dislocations and customer losses, will likely result in some short-term pain surrounding the company’s Q2 reported earnings.

Tom Stewart has been named senior vice president and manager of the small business administration division at Magna Bank. Since joining Magna in March, Stewart has led the bank in obtaining national preferred lending provider status. In his new role, Stewart will oversee all business development activities for the Mid-South along with portfolio management and loan servicing.

Wright Medical Group Inc. Tuesday, May 1, reported its adjusted net income declined 9 percent to $8.6 million for the first quarter of 2012 from $9.4 million in Q1 2011, while diluted earnings per share, as adjusted, decreased 8 percent to $0.22 in Q1 from $0.24 in Q1 2011.

Wright Medical Group Inc. Tuesday, May 1, reported its adjusted net income declined 9 percent to $8.6 million for the first quarter of 2012 from $9.4 million in Q1 2011, while diluted earnings per share, as adjusted, decreased 8 percent to $0.22 in Q1 from $0.24 in Q1 2011.

Wright Medical Group Inc. reported net sales fell 8 percent to $126.9 million in the fourth quarter of 2011, compared to $138.3 million during the same period in 2010.

The Arlington-based orthopedic medical device company said U.S. sales in Q4 were negatively impacted by distributor transitions that occurred in Q3, as well as challenges associated with implementing enhancements to the company’s compliance processes.

The U.S. Food and Drug Administration’s recent preliminary agreement to work toward more predictable, transparent reviews of new medical implants in exchange for doubling user fees for manufacturers could help stabilize the beleaguered medical device industry.

Less than a month after Wright Medical Group Inc.’s former Senior Vice President Frank Bono filed a complaint in Shelby County Chancery Court against his former employer, the Arlington-based orthopedic medical device company has named Daniel Garen its new senior vice president and chief compliance officer.

It was a mixed year of highs and lows for the Memphis area health care industry – which employs one out of seven workers locally – as the nation’s uncertain economy and changing health care system prompted hospital networks and biotech companies to realign, restructure and rethink the way they operate.

Wright Medical Group Inc. has announced Julie D. Tracy has been named senior vice president and chief communications officer of the Arlington-based orthopedic medical device company. Her appointment takes effect immediately.

Just days after Wright Medical Group Inc. announced it would cut its workforce by 6 percent, the Arlington-based maker of orthopedic medical devices on Monday, Sept. 19, announced Robert J. Palmisano will serve as its new president and CEO.

Wright Medical Group Inc. on Monday announced Robert J. Palmisano will serve as the new president and CEO of the Arlington, Tenn.-based maker of orthopedic medical devices. The appointment by the company’s board went into effect Saturday, Sept. 17.

Another top executive has resigned from Wright Medical Group Inc. Vice president and chief compliance officer Lisa L. Michels resigned from the company Tuesday, Aug. 16, according to a U.S. Securities and Exchange Commission filing signed Friday, Aug. 19, by Wright Medical Interim CEO David Stevens.

Growth is the buzzword in Bartlett and Northeast Shelby County, where the Bartlett Area Chamber of Commerce is in the midst of the second phase of a comprehensive economic development strategy zeroing in on four growth industries.

Wright Medical Group Inc., an Arlington-based global orthopedic medical device manufacturer, on Thursday, July 28, reported its net sales had risen 4 percent in the second quarter, totaling $132.5 million as compared to $127.7 million during the second quarter of 2010.

Wright Medical Group Inc., an Arlington-based global orthopedic medical device manufacturer, on Thursday, July 28 reported its net sales had risen 4 percent in the second quarter, totaling $132.5 million as compared to $127.7 million during the second quarter of 2010.

Smith & Nephew Inc. said its Memphis-based president of Orthopaedic Reconstruction and Trauma will soon leave the company as part of an organizational restructuring that will combine the company’s Memphis and Andover, Mass., divisions.

Wright Medical Group Inc. on Thursday announced that it received a letter from the United States Attorney’s Office for the District of New Jersey pursuant to Paragraph 50 of the Deferred Prosecution Agreement stating that the USAO believes Wright Medical Group knowingly and willfully breached material provisions of the DPA.

As Wright Medical Group Inc. Wednesday reported its net sales had increased 3 percent to $135.4 million in the first quarter of 2011 up from $131.2 million for the same period last year, the company also announced three of its executives have resigned effective immediately.

The April 4th Foundation will hold its 11th Annual Commemorative Awards Banquet Monday at 6:30 p.m. at the Cook Convention Center, 255 N. Main St. Civil rights activist Charles Patrick will receive the Open Door Award. The I Am A Man award recipient and keynote speaker will be Rev. Dr. Jeremiah Wright. For more information or tickets, call 859-3364.

With his first state of the state address delivered to the Tennessee Legislature Monday, Gov. Bill Haslam now takes the message on the road this week with a series of stops including one Thursday on the University of Memphis campus.

NASHVILLE (AP) – A study has found that women remain underrepresented in corporate leadership posts at publicly traded companies in Tennessee.

The report found that more than 91 percent of the 617 corporate directors were men at a time when women made up 48 percent of the Tennessee work force. Of the 72 public corporations, 46 percent had no women directors.

The Medical Education & Research Institute has evolved into one of the elite medical training facilities in the country. The center’s list of faculty and students reads like a “Who’s Who” of medicine from all over the world.